According to StreetEasy, uptown Manhattan median resale prices grew 13.5% between August 2014 and August 2015.
In Hamilton Heights, the median monthly rent for a two-bedroom rose from $2,175 in August 2014 to $2,400 in August 2015, StreetEasy reported. The median price of condos rose from $580,000 in August 2014 to $639,000 in August 2015.
As for how this is affecting locals, local City Councilman Mark Levine said there the situation is both positive and negative.
"On the one hand new restaurants and bars opening here have provided a much-needed economic boost to the neighborhood," he said. "On the other hand, long-time local businesses -- many Latino-owned -- are closing at an alarming rate in the face of soaring rents."
Yuien Chin, a community activist for 25 years and the force behind the events website HarlemOneStop, agreed.
"I love the fact that services that we advocated for years ago are coming to our neighborhood," she said. "But I wish the changes would be more sensitive to the disenfranchised who live here and to the struggling middle class."
Residents, however, are excited about the affordable housing units being created in what was an abandoned public school at 521 W. 145th St. The building is slated to have 63 low-income apartments, seven middle-income and eight market-rate. It will also have a 10,000-square-foot facility for the local Boys & Girls Club.
(Credit: Linda Rosier)